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TaxCalc hooks up with QuickBooks

27th Feb 2019
QuickBooks Connect 2019, London
QB Connect_AW
QuickBooks Connect 2019, London

Tax and practice software house TaxCalc turned up at QuickBooks Connect in London this week to announce its two-way integration with the cloud bookkeeping platform.

Pointing to a working copy of the new hook-up, TaxCalc chief operating officer Simon Guest said it added new facilities that aren’t available with the .CSV trial balance imports used with other bookkeeping tools.

The link connects TaxCalc to the QuickBooks application programming interface (API) to make it easier to import trial balances and to send journals back to the client’s bookkeeping system. The connections can feed accounts production and corporation tax modules and relevant income data can be imported for individual directors’ tax returns too, according to Guest.

The new feature will be included in the April TaxCalc release. While TaxCalc has developed a close working relationship with Intuit around the project, Guest said the company was taking a “plural approach” and would be adding similar two-way links to other cloud accounting systems.

The integration is notable for the way it connects the desktop TaxCalc practice suite with QuickBooks Online (QBO) via TaxCalc’s Cloud Connect online database.

Shifting software landscape

TaxCalc has its own MTD product that will bring it into competition with Intuit’s QuickBooks MTD suite, a sign of the growing tension between co-operation and competition within the wider accounting software industry. MTD is lured the big cloud software platforms into following Sage’s example and dabbling in compliance tools, but Guest is not convinced that they will pose a threat to TaxCalc.

“We’re better off being close to them than not,” he said. “VAT is local, but it’s pretty close to bookkeeping and has a lot of equivalents elsewhere. Compliance is much simpler than final accounts production, and income tax computations.”

Few international developers have successfully tackled tax compliance in multiple jurisdictions, yet, said Guest, and any such developments would not work for practitioners who supported clients on multiple accounting platforms.

“Intuit and Xero probably feel there’s a quicker route to co-operate with people like us and develop mass market tools in other areas,” he said.

There’s a bit of history to the alliance, as the original TaxCalc program was written by Intuit and sold to Acorah Software, its current owner, in 2005. TaxCalc come a long way since then and is now one of the leading players in the UK tax/compliance market that has attracted the US software house’s attention in the past year or so.

AccountingWEB will be keeping an eye out to see how the relationship develops.

Replies (5)

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By FirstTab
27th Feb 2019 18:40

Thumbs up aricle.

Thanks interesting times ahead.

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By Tim Vane
27th Feb 2019 21:39

API links like this are an odd thing to be making a fuss about in this day and age. Taxcalc used to be at the leading edge of innovation in software. Now they are trumpeting a link to QBO that most of their competitors have had for years. I am sure BTC had it some time ago and Taxfiler released their link at the QuickBooks event about three years ago. Even IRIS have had it for some time now.

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Replying to Tim Vane:
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By DaveyJonesLocker
28th Feb 2019 23:01

Their increase in prices each year don't correlate to the improvements either.

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Replying to DaveyJonesLocker:
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By AnnAccountant
01st Mar 2019 14:18

They brought in a very expensive e-signing tool last year. Been using Adobe for several years (at a fraction of the price) and see no reason to change to their tool

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By xulaked
09th Mar 2019 05:47

Best way to Setup on Netgear Router

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